Lyon County times. [volume] (Silver City, Nev.) 1874-1907, 1887-04-02
A CARD TO THE PUBLIC.


DAYTON, New, March %, 1887.
En-. TrMEs:- Observing In o number of Nevada
papers q somewhat attractive advertisement of
the Home Benefit Life Association, and not thor
oughly learning their mode of conducting bust.
ness from the announcement referred to, 1t has
occurred to that little inquiry. calculated to
throw more light on the subject, would be accept
able to the citizens of Nevada.
The declaration: No Membership Fee! No An
nual Dues No Medical Fee! is intended to con-
vev the idea that the cost of insurance is cheaper
in this citation than in other equally RESPONSE
BILE associations making legitimate charges OF the
nature referred to, and the question naturally
arises: How do you meet the expenses of con-
Quoting your business' Do your manag re-, agents.
solicitors and medical examiners work for nothing
out of pure philanthropic regard for the suffering
public, or do they receive adequate remuneration
for their services out of the frs' and second of
the six assessments year 80 modestly announced
as covering the entire COST In the latter event,
Is 1t not possible that instead of little cheap In
surance, a great deal of cheap blncomhe ia being
palmed off on the citizens of this State?
The statement that the Home BENEFIT Associa.
tion issues definite contracts with cash surrender
value ia somewhat vague. Will the gentlemen in
charge kindly rise and explain what the definite
cash surrender value OF airy policy Issued here
amounts to. and at the same time give a definite
statement o the amounts distributed to the mem.
bers from the reserve fund or used to pay their
assessments based upon the actual workings of
the association during the last eight years, and
what percenta ge these rebates constitute Of the
total amounts contributed by the members2
Does the statement that these are amounts "col-
lected In excess of mortality and expenses" &C.
count for the existence Of the reserve fund? If
So why are such onerous burdens plsced upon
conhding members of the Home Beneht Associa-
ton in excess of what is absolutely necessary TO
cover the actual cost of their insurance?
Or is this reserve fund the result Of that peculi.
ar system of enforcing SIX assessments per an
mum, even although THREE should be more
than sufficient to the liabilities Of the 1850
citation In any particular year where the death
losses do rot call for more? In view Of the mod,
est insinuation Of cheap insurance. 1t ia perhaps
desirable to estimate the cost Of policy under
this system of the Home Benefit Life Association.
At the age Of fifty policy of $4,000 will cost
for each 81 600 six assessments Of "a IS each.
amounting to s25 50 per 81 900 per AMIN. or total
for $4,000 of s255 so, without making any direct
charge for annusl dues, admission fee or medical
examinations whilst the cost of similar insurance
of an equal amount, namely $4,000. in the most
progressive and responsible association on the
Coast last year was as follows
First cost of certificate, including men,
bership, annual dues and medical ex-
amlnbtlOu. % w
Two assessments of $31 so each .......... 60 90
Total cost of $4,000 insurance for year. 8 lag on
Cost of similar insurance in the Home
Benefit, rs above noted. ............... 255 so
Difference In favor of member insured
by Bankers and Merchants Mutual
Or. in other words. the cost OF insurance under
the Plain straightforward system of the Bankers
and Merchants Mutual Life Associ alton is less
than one-half the amount charged by the Home
Benefit Life Association. Perhaps the philan.
thropic agents will explain how such things can
be, and Overcome us like summer cloud" Let
us have more light, gentlemen, on this question.
ANTLBUNooMBE.